Tesla offering new entry-level Model X at $74,000
Tesla Motors Inc. is offering a new entry-level Model X starting at $74,000.
The Model X 60D is $9,000 less than the 75D at $83,000, which was the previous entry-level model that Tesla will continue to offer. Pricing excludes a $1,200 delivery charge as well as any local, state or federal tax credits for purchasing an electric vehicle.
Tesla on Wednesday said the move is to give “customers the flexibility to choose the Tesla model, price point and range that best fits their lifestyle.” It comes amid missed sales targets for the company, as well as negative publicity and federal investigations over reported crashes involving its Autopilot system, at least a $2,500 option for the new model.
The new Model X 60D, with estimated delivery of late September, will feature up to 200 miles of range, a top speed of 130 mph, zero-to-60 acceleration in 6.0 seconds and all-wheel drive performance.
That compares to the Model X 75D that features the same zero-to-60 and top speed, but a larger 75 kWh battery that provides a 237-mile range, according the company’s website.
Tesla will continue to offer the luxury and performance Model X 90D and P90D models. Those start at $95,500 and $115,500, respectively. The Model X 60D comes roughly a month after the Palo Alto, California-based electric vehicle manufacturer announced a Model S 60 sedan that was about $5,500 less than the model it was replacing.
“Our versatile product platform and efficient manufacturing processes make it possible to seamlessly extend these types of compelling offerings to customers,” the company said.
Tesla shares were down 1.2 percent to $221.90 per share at 1:55 p.m. Wednesday, amid news of the entry-level model and continuing coverage of the Autopilot accidents, including a fatal accident in Florida that prompted federal officials to open investigations into the semi-autonomous driving feature.
Tesla CEO Elon Musk earlier this week said a new master plan for the company could be released this week.
Musk teased the release in a tweet Sunday: “Working on Top Secret Tesla Masterplan, Part 2. Hoping to publish later this week.”